The Redbud Capital-backed new materials-focused vehicle has attained its target, more than a year after a first close.
China-based investment firm Richland Capital reached the third close of its corporate-backed, yuan-denominated venture capital fund, dubbed Richland Capital Fund III, at RMB700m ($109m) on Monday.
The fund’s limited partners include Redbud Capital, a fund-of-funds established by Tsinghua University’s asset management arm Tsinghua Holdings.
Founded in 2011, Richland Capital targets early to growth-stage developers of new materials and technologies related to semiconductors, 5G, artificial intelligence, laser industrial automation and electric vehicles. It has about $466m under management and has invested…
